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Terms&Conditions in ICOs: what should we pay attention to

Terms & conditions have always been an essential part of an initial coin offering (ICO), as well as of any other type of deal. A regular active user may hit «I agree» button multiple times a day without bothering to considering what surprises can possibly pop up. What, sometimes, can be a bit of an issue. We are conditioned to overlook the less-than-enthralling legal sections of websites. Even lawyers can feel unmotivated to read these provisions. We analyze the product or service on its alleged merits, prior experience and reviews of other users. We are also sometimes shielded by consumer protection laws.

But, since ICO tokens exist in the virtual realm and are nothing more than a set of rights, there is often no product to demonstrate, there can be no usage reviews, and, what’s more, there is little clarity on legislative protections. These points make it imperative to have a look at the corresponding terms and conditions.

In case if an ICO’s website doesn’t even have an attached T&Cs document, it’s a signal to hold your money tighter. Obviously, it’s not that fun reading T&Cs, but don’t be tempted by a one-page document: it must be lengthy.  

What else should you pay attention to? read more